MP Thomson's business described raise in families losing homes as "great opportunity"

A BUSINESS run by an MP involved in a row over her property dealings described a rise in families losing their homes as a "great opportunity" and said emotional attachment could stand in the way of "huge profit".

A blog written to promote Michelle Thomson's firm Your Property Shop offered advice to those thinking of entering the sector and included several links to the company's main website.

The company's main website has been taken down since questions over the former SNP business spokeswoman's work practices emerged. Ms Thomson withdrew from the party's whip in the Commons last week.

Written in 2011, it states that the economic downturn had led to an increase in foreclosures and described repossessed properties as "a great opportunity to own a home".

It warned against "emotional attachment", with one entry stating: "Keeping yourself emotionally distant is practical when purchasing property. Most new investors get emotionally attached to a property which clouds their judgement and they forget all about the numbers. If you plan to invest in a property it is important to remember that you should be able to make a huge profit on it."

A spokeswoman for Ms Thomson, who denies any wrongdoing, said that her business partner, journalist Frank Gilbride, had been behind the posts.

Nicola Sturgeon has said she did not know about "allegations" surrounding Ms Thomson until they emerged in the press.

However, the party is yet to give an in-depth explanation of what its understanding of her business practices was before she was approved as a parliamentary candidate and on what basis she was made spokeswoman for business, innovation and skills.

Labour said the blog, coupled with material such as Ms Thomson making references to attempts to purchase homes at 30 per cent below market value on her Facebook page, make claims that the SNP did not know about the Edinburgh West MP's property deals "difficult to take seriously".

A police investigation is ongoing regarding 13 property deals in 2010 and 2011 which led to Ms Thomson's solicitor, Christopher Hales, being struck off for professional misconduct.

Ms Thomson denies any wrongdoing and has vowed to return to frontline politics. However, the SNP's political opponents have said that regardless of the outcome of the investigation, her practice of targeting those in financial difficulty in a bid to find bargains before on occasion selling homes at a large profit hours later was immoral.

In one such 'back to back' deal, Mr Gilbride purchased a home in Stirling from Sarah Capper, 77, for £64,000 in 2010. Ms Capper was being treated for skin cancer and was desperate to return to England to be with her family.

Later that day, Ms Thomson then bought the property from Mr Gilbride for £95,000. Their solicitor then organised a 'cashback' payment of more than £28,000 from Mr Gilbride to Ms Thomson. The mortgage company were not told about the cashback arrangement nor the 'back-to-back' transaction, as it should have been.

In the blog, it is stated: "Many property investors pay too much for a property. A wise investor will make money even while buying the property and not only when they sell it."

Ms Thomson's spokeswoman refused to say whether this was a reference to 'back-to-back' transactions, saying the MP's solicitor had advised her not to make any further comment beyond stating that Mr Gilbride was responsible for the posts.

Labour MSP Jackie Baillie said: "It beggars belief that as far back as 2011 SNP MP Michelle Thomson's business partner was giving advice on how to take advantage of vulnerable families. The fact that this information was available online makes it difficult to take seriously SNP claims that they knew nothing about Michelle Thomson's property deals."

Meanwhile, Scotland's top prosecutor will speak about the affair at Holyrood today. Labour have asked when then Crown Office "was first notified of allegations of mortgage fraud against Christopher Hales", after delays in launching an investigation were questioned.

Meanwhile, bookmakers believe that Michelle Thomson will stand down as an MP - but that the SNP will win the seat in a by-election.

The Edinburgh West MP won one of the slimmest majorities of the SNP's 56 victories in May, taking Edinburgh West by a margin of just over 3,000 votes.

She has resigned the party whip at Westminster after it emerged that police were investigating property deals carried out on her behalf, but has vowed to return to frontline politics after clearing her name.

However, bookmaker Betway at least does not believe her, saying it would offer odds of just 4/6 on a by-election in the constituency taking place before the end of 2016. There has been reports that the SNP is preparing for a by-election locally, despite Ms Thomson's insistence that she has done nothing wrong.

Betway’s Alan Alger said: "Michelle Thompson MP has already been forced to resign from the SNP, and the prospect of a by-election in Edinburgh West by the end of 2016 looks certain.

"However, the SNP will do everything in its power to hold onto one of its prized Westminster seats and many will expect a tense but ultimately easy SNP hold."

The bookmaker says betting would be likely to start at 4/7 for the SNP, with the LibDems at 9/4 and Labour at 4/1. Rival Ladbrokes provided indicative odds of 1/3 on the nationalists winning a by-election if one was held in 2015, meaning a £3 stake would be required to make a £1 profit, with the Liberal Democrats 3/1 to regain Edinburgh West. Labour and the Tories were likely to be priced at 16/1.

Matthew Shaddick, Head of Political Odds at Ladbrokes, said: "The SNP will still be favourites in the Ladbrokes’ market if any by-election does take place. The Lib Dems would have a good chance if the previous MP stood again, with lots of local support, but Labour still look too far back for any Corbyn effect to see them through."

Ed Fulton, political spokesman for Sporting Index, Alex Salmond's favoured bookmaker, agreed that the SNP would win in Edinburgh West. He said: "We haven’t had large scale Scottish opinion polling yet in the post-Corbyn age, but the seven council by-elections in the past week showed that the SNP is stronger than ever, with the average vote share for the party increasing seven per cent across the seven wards.

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